Valvoline Inc.


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Valvoline Inc.: Initiation Of Coverage – Will The Improvements in Non-Oil-Change Revenues and Premiumization Continue To Happen?


Valvoline Inc., a leading worldwide marketer and supplier of premium branded lubricants and automotive services, reported robust results for the first quarter of fiscal 2024. The company’s strong performance was marked by a robust top-line growth with system-wide store sales growing 12.3% to $723 million. Both company and franchise same-store sales expanded respectively with 6.1% and 8% growth. The franchise side saw modestly better growth powered primarily by enhancements in non-oil-change revenue service penetration. Profitability was in tune with expectations, and the company made deceptive progress on returning a significant portion of the net proceeds from the sale of global products to shareholders through share repurchases.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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